Nexus Technologies Inc., a Philadelphia, Pennsylvania-based export company, pleaded guilty Tuesday to charges of conspiracy to bribe officials of the Vietnamese government in exchange for lucrative contracts to supply equipment and technology to Vietnamese government agencies, in violation of the Foreign Corrupt Practices Act (FCPA). The company, together with Nam Quoc Nguyen, 54, of Houston and Vietnam; Kim Ahn Nguyen, 41, of Philadelphia; and An Quoc Nguyen, 34, of Philadelphia, were charged in a superseding indictment on October 30, 2009, with conspiracy, violations of the FCPA, violations of the Travel Act in connection with commercial bribes, and money laundering. Each has pleaded guilty to various charges. Another former executive, Joseph T. Lukas, also pleaded guilty to conspiracy and violating the FCPA. In connection with the guilty pleas, Nexus and the Nguyens admitted that from 1999 to 2008 they agreed to pay bribes in excess of $250,000 to Vietnamese government officials. Sentencing is scheduled for July 13, 2010, and Nexus faces a fine of up to $27 million.
Read the story here and here.
Read the DOJ announcement here.
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